sebi:VKV/DL/AO-11/2016
Facts / Headnote
Adjudication proceedings disposed without penalty
Provisions invoked
- s. 15
- s. 15I
- s. 15J
- s. 15C
Parties
- M/s Oswal Agro Mills Ltd.
Holding
The adjudication proceedings against M/s Oswal Agro Mills Ltd. were disposed without imposing monetary penalty under Section 15C of the SEBI Act, 1992, as the allegation of failure to redress investor grievance was not established.
Full text
Adjudication Order in respect of M/s Oswal Agro Mills Ltd. February 04, 2016 Page 2 of 5 2. As observed from the contents of the Circular, SCORES introduced electronic dealing of the complaints of the investors, by the respective companies. Thus, once a complaint against a company was uploaded by SEBI in the SCORES, it amounted to calling upon by SEBI to such company to redress the investor grievance. Accordingly, it was incumbent upon such company to redress the investor complaint. It was observed that one investor complaint was pending against the Noticee as on March 30, 2015. APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in respect of M/s Oswal Agro Mills Ltd. February 04, 2016 Page 3 of 5 "..........This is in reference to your letter received us through SEBI. In this regard please note that due to large no. of shareholders we are unable to found any details of your holding in the record of the Company through your name. We require your folio no., distinctive no as well as certificate no. which was allotted to you on the time of allotment….”
Adjudication Order in respect of M/s Oswal Agro Mills Ltd. February 04, 2016 Page 4 of 5 FINDINGS 10. On perusal of the material available on record and giving regard to the facts and circumstances of the case, I record my findings hereunder.
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Source: SecMarx — sebi:VKV/DL/AO-11/2016. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.